US Imposes New Sanctions on Venezuela and Maduro Associates

Individuals Targeted
The sanctions specifically target three relatives of Maduro, two of whom were released by the United States in a prisoner exchange with Venezuela in 2022. Evraín Antonio Campo Flores and Franki Francisco Flores de Freitas were convicted of drug trafficking in 2017 after being arrested in Haiti and handed over to U.S. authorities. The third individual, Carlos Eric Malpica Flores, is the vice president of the state oil company "Petroleos de Venezuela" and was previously subject to U.S. sanctions from 2017 to 2022.
Additional Sanctions
Further sanctions were placed on a businessman from Panama accused of signing contracts with Maduro and his associates.
Impact on the Oil Sector
The new measures affect six vessels involved in the transportation of Venezuelan oil, registered in the United Kingdom, British Virgin Islands, and the Marshall Islands. These sanctions follow the seizure of an oil tanker by the U.S. Coast Guard, which was accused of transporting Venezuelan crude oil. White House spokesperson Caroline Levitt stated that the vessel was en route to a U.S. port for the seizure of its oil.
Consequences of the Sanctions
The sanctions entail a complete freeze of the assets of the affected individuals and companies within the United States and prohibit U.S. citizens or companies from conducting business with them. Foreign individuals or companies may also face restrictions if they use the U.S. dollar in transactions with the sanctioned individuals, thereby increasing financial pressure on the Venezuelan regime and its partners.
Statements from the Treasury
U.S. Treasury Secretary Scott Bancen stated: "Nicolás Maduro and his criminal associates are flooding the United States with drugs that poison the American people. Under the Trump administration, the Treasury will hold the regime and its associates accountable for their crimes."
